The escalating trade tensions initiated by US President Donald Trump have raised concerns about global economic growth, driving gold prices to record highs.

The uncertainty in global trade continues to drive demand for safe-haven assets.

The spot price of gold started the day at a new record high. The price of an ounce of gold rose to $3,283, an increase of 1.62%. Meanwhile, US gold futures climbed to $3,286.30, up 1.4%. HOW MUCH IS A GRAM OF GOLD? Following developments in the price of gold per ounce in the US, the price of a gram of gold in Turkey is also rising. The price of a gram of gold reached 4,023 lira, marking a 1.66% increase. The gram of gold had set a record on March 19, 2025, at 4,068 lira. IT HAS GAINED 24% IN VALUE SINCE THE BEGINNING OF THE YEAR Brian Lan, General Manager of GoldSilver Central based in Singapore, stated, “As long as uncertainty persists, gold will continue to remain strong.” Gold has gained over 24% in value since the beginning of this year.

ANZ Bank has raised its year-end gold price forecast to $3,600 per ounce and its 6-month forecast to $3,500. The bank’s analysts highlighted that safe-haven buying to escape risks has not fully materialized yet.

US AND CHINA TRADE WAR The “trade war” initiated by US President Donald Trump with increased customs tariff rates upon taking office in January 2025 continues. It is alleged that China has retaliated against the 145% customs tariff imposed on Chinese products by Trump. It was reported that China instructed its airlines not to receive more aircraft deliveries from aviation giant Boeing.

CENTRAL BANK’S RATE DECISION IS AWAITED

All eyes are on tomorrow for the April interest rate decision of the Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee. Economists expect the CBRT to keep its policy rate unchanged at 42.5% in April.

The Central Bank had reduced its interest rate from 45% to 42.5% last month.